Solar panels, solar collectors, or Photovoltaic (PV) solar technology have long been considered a great solution to our ever-worsening climate crisis. But because of its high module prices when it first came out in the 1950s, many people couldn’t afford them. Now, thanks to advancements in science and technology, a lot of that has changed. Today, residential solar power systems are a financially viable technology that can offer multiple benefits to homeowners.
With the rise of alternative power sources, solar collectors have become the no.1 option for many residential homeowners. With a fairly priced primary investment, the long-term benefits of this technology can save you thousands of dollars in the long run.
Should You Use Solar Panels?
There are many good reasons why you should go solar, but perhaps the number one reason is environmental benefits and reduction of energy costs. In this article, you’ll learn many more benefits of using a solar collector system. But first, let’s learn more about photovoltaic solar tech.
How do they work?
Solar collectors work through solar PV cells which are sandwiched between layers of semiconducting materials (usually, silicon). When sunlight shines upon it, electrons are knocked loose and this creates a flow of electricity. When multiple solar cells are combined, they form panels.
These devices are usually installed on south-facing roofs that are exposed to the sun. They can also be installed on walls or ground. They are pitched at an angle of about 10 -50 degrees, with the optimum angle between 30 and 40.
So what are some of the best benefits of solar collectors?
It can reduce your electric bills
Solar collectors can cut your electric bill by up to 50% every month. Imagine paying less for your energy bill for years after your installation. Most homes use panels as their primary source of electricity and simply use local utility electricity as a backup during long rainy days and thunderstorms. Solar energy can also save you thousands on your annual energy costs.
You can earn tax credits
Depending on the state you live in, you can earn tax credits by installing panels and other environmentally-conscious technologies. For example, in Maryland, residents can apply for clean energy grants as well as solar renewable energy credits as an incentive for having panels. You can also earn federal tax credit which will earn you 30% of your total solar panel installation cost. Some states even continue offering tax credits even after the federal credit expires.
Credits can vary by state. Some states can receive additional incentives such as property tax exemptions and cash backs. In some states, homeowners can also sell excess power to local utility companies. If you’d like to install your very own panels, make sure to review your state’s incentive first to get the most out of every installation.
Improve your home’s resale value
Installing solar collectors can improve your home’s resale value. In fact, based on almost all home improvement investment surveys, a solar collector is the top-ranking utility that can increase the value of the real estate. Solar energy systems don’t just save your money on electric bill but also adds value to your home if you decide to sell it in the future. According to a study, the resale value of a home can increase by $5,911 per installed kilowatt. So, if you have a 3.1-kilowatt system, you can have your home’s resale value at around $18,000.
Extend the life of your roof
It can protect your roof from harsh weather and elements outside. Your roof will have extra protection from rain, snow, and other debris that fall. Solar collectors can also make your home more energy efficient in the summer. Instead of being absorbed by your roof, the heat will be absorbed by the panels keeping your house temperature generally lower.
Lessen your carbon footprint
It can significantly reduce your carbon footprint. Unlike other energy sources, solar energy creates clean, green, renewable power. It doesn’t emit any harmful gas that can destroy our atmosphere. It’s production also doesn’t take up too much raw natural resources. By investing in solar panels for your home, you can help reduce our reliance on fossil fuels. It will also reduce dangerous pollutants that harm our planet.
Installing your very own solar panel system may seem like a daunting task, but it’s important to remember that it’s a long-term investment. Before you install your very own PV solar system, it’s wise to consult an expert about your decision. Some areas and residential environments may not be suited for solar panels. Other times, using electricity from the utility can be much more financially sound for your current housing situation.